APE starts staking, how should the users of the three major platforms choose?
Original author:
Original author:JamesX
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https://dune.com/ponzidope/apecoin-staking-apy
Although there are still a few days before the official mining start, and the expected APY rate of return at that time will decline after more APE tokens and BAYC/MAYC/BAKC series NFTs participate in the pledge, but for investors and NFT collectors For everyone, Ape Staking is an investment opportunity not to be missed.
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ApeStake.io Official Staking
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https://snapshot.org/#/apecoin.eth/proposal/0xcf4d7199323572b9 cc 7 e 212 d 29 d 07 df 974280 bc 3 d 18 e 35 dcfeafb 30 d 1 c 3 e 17 fb
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https://forum.apecoin.com/t/aip-22-staking-pool-allocation-reloaded-ecosystem-fund-allocation/5071
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Horizen Labs Twitter
Note: If you choose to directly participate in staking mining activities through ApeStake.io, please note that if you sell the corresponding Ape NFT during the staking period, you will lose all the paired pledged Ape tokens. Therefore, please remember that before the transaction occurs, you must cancel the pledge of Ape NFT and recover all the pledged Ape tokens to prevent attacks by arbitrageurs.
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ParaSpace
The name ParaSpace may be unfamiliar to everyone, because it is indeed a new player in the NFT lending market, but its sister project Parallel Finance, the largest lending agreement in the Polkadot ecosystem, must be familiar to everyone, and the development team is also Para Labs.
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https://app.para.space/
ParaSpace Ape Staking, like BendDAO that will be analyzed below, uses NFT mortgage lending as the basic logic of the platform. In conjunction with the Ape Staking mechanism this time, NFT holders can obtain additional liquidity funds through mortgage lending, Participate in Ape Staking liquidity mining to obtain continuous APE token mining rewards. However, ParaSpace has adopted an innovative Peer-to-Pool model, which greatly improves capital utilization efficiency.
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ParaSpace Twitter
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ParaSpace Twitter
In addition, in view of the risk that if the Ape NFT is sold during the pledge period mentioned in the previous part, the original holder will also lose the risk of the paired APE tokens. ParaSpace also avoids this risk through the developed smart contract. For any Ape NFT mined through ParaSpace pledge, if a transaction occurs during the pledge period, ParaSpace will automatically release the pledge and return all Ape tokens before the transfer of the transaction occurs. Fundamentally put an end to the occurrence of this bug in the official mechanism, and also ensured the security of its own APE lending pool.
Regarding the contract security level that users are most worried about, although ParaSpace is a brand new NFT lending platform and a new contract developed for Ape Staking was launched on the mainnet on December 10, its contract has already passed 0 xQuit, Certik, trailofbits, and Secure 3 io's security audit, and several other leading security audit companies are also conducting the final stage of security review, including SlowMist, VeridiseInc, and Quantstamp.
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BendDAO
BendDAO is no stranger to most blue-chip NFT players, and has been running smoothly for nearly 9 months. During this period, BendDAO also experienced the problem of liquidation of many NFTs caused by the sharp fluctuations in the price of blue-chip NFTs. Not long ago, it was also questioned by the industry whether it would be the culprit for the blue-chip NFT price to enter the death spiral and the ability to solve bad debts. And time has proved its leading position in the NFTFi field. Therefore, in Ape Staking activities, BendDAO is also a very important third-party participation platform.
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https://www.benddao.xyz/en/apecoin-staking/explore-pairing-listings/
The Ape Staking product design idea adopted by BendDAO is different from ParaSpace's Peer-to-Pool logic, but adopts a Peer-to-Peer model with a higher degree of user freedom. When each BAYC/MAYC is deposited into BendApe Staking, NFT holders are free to set several parameters: 1. Ape NFT, APE tokens, and BAKC paired with the total APE token rewards for each role of the pledger percentage. 2. The quantity requirement of APE token pledge.
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https://docs.benddao.xyz/portal/bendapestaking-intro-and-faq
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Binance NFT
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https://www.binance.com/en/support/announcement/binance-nft-marketplace-will-launch-ape-nft-staking-program-4352 ac 39 da 8640 cc 86435 d 981174 a 7 e 7
The rules of the event can be said to be the simplest and most direct among these several Ape Staking projects. Users only need to pledge BAYC and MAYC NFT on the Binance NFT platform to get daily APE token mining rewards. It is equivalent to providing a centralized pledge service for holders of Ape NFT, and users can obtain benefits in Ape Staking activities without worrying about the pairing pledge rules of Ape tokens.
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https://www.binance.com/en/support/faq/frequently-asked-questions-on-the-ape-nft-staking-program-91 d 69 c 6 adfda 491381 f 3 b 808 f 3652 e 09
It is worth noting that after the start of the pledge, if the user wants to retrieve the pledged Ape NFT, the official announcement reminds that the redemption process of the current pledge will take 48 hours, and the early redemption process of the fixed-term pledge will take as long as 7 days, and will lose the 7-day APE mining income, which is not a user-friendly pledge redemption mechanism for the extremely volatile NFT market. At the same time, compared to ParaSpace and BendDAO, where all processes are carried out through smart contracts in the form of "DeFi" and the guarantee of numerous audit reports, the centralized pledge mechanism of Binance NFT also has certain centralized operational risks, but the holding of Ape NFT Investors can also check whether their BAYC/MAYC has participated in the pledge through the data on the chain at any time through official channels.
Summarize
Summarize
In order to facilitate the direct comparison of the above 4 participating Ape Staking platforms, I made the following table for your reference.
Although it is said that for the design of Ape Staking activities, the NFT users and currency holders of the APE ecosystem have mixed opinions. But as a DeFi researcher, I am very pleased to see that NFT native projects are more integrated with the design ideas of the DeFi track, including Art Gobblers, which was popular some time ago, and borrowed from the (3, 3) model of the DeFi project OlympusDAO.
At the same time, this is even more true for the NFTFi track: LooksRare and X2Y2, which are trading as mining, are upgraded to Blur.io, which is Listing + Bid, which is "digging" blind boxes, and ParaSpace, BendDAO and JPEG'd, these projects provide huge support for the underlying liquidity of the NFT track and improve the overall capital utilization efficiency.
I believe that with the continuous exploration of the entire NFT ecology to combine the token economic model, as well as the continuous efforts of the buidlers on the NFTFi track and the mechanism innovation combined with the characteristics of NFT itself, we will soon gain more attractive PFP series, using NFT Undertaking investment opportunities on the RWA chain, customized financial bills, etc., NFT will definitely take on a more important role in the future financial system on the chain.
